Two-Unit Residential Income
326 W Barnum Street Ishpeming, MI 49849
New
For Sale
$155,000
MULTI_FAMILY - Conventional - Ishpeming, MI
Property Size1,716 SF
Lot Size0.11 Acres
Price / SF$90.33
Days on Market2
Property Features for 326 W Barnum Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Laundry Room, Basement, Bedroom 4, Bedroom 3, Bedroom 2, Bedroom 1, Bathroom 2, Bathroom 1
- Parking features
- Garage
- Patio and Porch features
- Patio
- Exterior features
- Patio
- Appliances
- Dryer, Range/Oven, Refrigerator, Washer
- Standard status
- Active
- Size
- 1,716 SF
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 2064
Utilities
- Heating system
- Steam
- Cooling system
- Ceiling Fan(s)
- Water source
- Public
Building Details
- Year built
- 1880
- Floors in Building
- 2
- Number of units
- 2
- Architectural style
- Conventional
Listing Agency:
KELLER WILLIAMS NORTHERN MICHIGAN
(231) 947-8200
Listed By:
CRYSTAL BARR BERGLUND · License #6502388666
(906) 360-2948
Added: Jul 22
Changed: Jul 23
Last Checked: Jul 23 at 9:06PM
MLS# 50215979
Copyright © 2026 Upper Peninsula Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-unit residential income property offers two separate homes, with each unit featuring two bedrooms and one full bathroom. The property sits on an elevated corner lot, and includes a detached two-car garage.
Located on W Barnum Street in Ishpeming, the property is positioned near the Cliffs Shaft Mine Museum and provides immediate access to nearby regional trail networks. Lake Bancroft is also a few blocks away.
With two well-sized units and dedicated off-street parking in the detached garage, the building is suited to buyers seeking a conventional duplex-style income property in Ishpeming.
Located on W Barnum Street in Ishpeming, the property is positioned near the Cliffs Shaft Mine Museum and provides immediate access to nearby regional trail networks. Lake Bancroft is also a few blocks away.
With two well-sized units and dedicated off-street parking in the detached garage, the building is suited to buyers seeking a conventional duplex-style income property in Ishpeming.
Key Highlights
- Multi‑family opportunity built in 1880 with conventional architectural style
- Each unit features 2 bedrooms and 1 full bathroom
- Detached 2‑car garage for parking and additional storage
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $15.9k | $9.24 |
| − Vacancy | −$542 | −$0.32 |
| EGI | $15.3k | $8.92 |
| − OpEx | −$4.6k | −$2.68 |
| NOI | $10.7k | $6.25 |
1,716 SF · lease $9.24/SF/yr · vacancy 3.42% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$153.1K
$134.0K – $178.7K
NOI $10,719 @ 7.0% cap · market cap 6.92%
Second Best
Apartment 5plus
$132.6K
$116.0K – $154.7K
NOI $9,280 @ 7.0% cap · market cap 5.99%
Theoretical Best
Office A
$505.4K
$442.2K – $589.6K
NOI $35,377 @ 7.0% cap · market cap 22.82%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two residential units each include two bedrooms and one full bathroom, plus a detached two-car garage.
Where is this duplex located?
The property is located at 326 W Barnum Street Ishpeming, MI.
What is the asking price?
The asking price for this property is $155,000.
What are key features of this property?
This property features: Multi‑family opportunity built in 1880 with conventional architectural style; Each unit features 2 bedrooms and 1 full bathroom; Detached 2‑car garage for parking and additional storage
